WebDec 16, 2024 · Eligible individuals aged 55 years or older can make a downsizer contribution from 1 January 2024. For any downsizer contributions made between 1 July 2024 and 31 December 2024, eligible individuals must be aged 60 years or older at the time of making their contribution. Prior to 1 July 2024, the eligibility age was 65 years and over. WebAug 7, 2024 · Eligibility for the downsizer measure You will be eligible to make a downsizer contribution to super if you can answer yes to all of the following: you are 65 years old or older at the time you make a downsizer contribution (there …
CFS clarifies common downsizer query with subdivided land
WebFeb 9, 2024 · With the downsizer eligibility age now much lower, professionals need to be extra careful where downsizer and non-concessional contributions are being used simultaneously, says a technical expert. Speaking in a recent webinar, Smarter SMSF chief executive Aaron Dunn said with the eligibility age for making downsizer contributions … WebDec 12, 2024 · For example, if you’re eligible to make a ‘downsizer contribution’ of up to $300,000 or ‘CGT cap contribution’ of up to $1.48 million. You may be eligible to make a downsizer contribution if you sell a home that you or your spouse owned for a continuous period of at least 10 years and you are aged 65 or more. in and out cell phone repair mandeville
Downsizer contributions –– basics, tips and traps
WebMar 3, 2024 · 03 March 2024 — 1 minute read. A. A. A. With the eligibility age for downsizer contributions set to drop in July, CFS has outlined some of the technical issues that can arise when considering downsizer contributions and subdivided blocks. Speaking in a recent CFS podcast, Colonial First State head of technical services Craig Day said … WebSep 28, 2024 · Eligibility criteria to make a downsizer contribution include: Eligible sale contracts are entered into on or after 1 July, 2024; Sale proceeds must come from the … WebDownsize definition, to design or manufacture a smaller version or type of: The automotive industry downsized its cars for improved fuel economy. See more. duxberry landing columbus ohio